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CNBC
Dec 30, 2012 7:30pm EST
wall street journal report." i'm maria bartiromo. the fiscal cliff, the deadline, and what it means. we'll look ahead, we'll look back, our all-star panel on the big news that hasn't happened yet. the preview of the big stories and trends for 2013. and then we will hit the highlight reel. my interviews with the most important, influential and interesting people of the past year. "the wall street journal report" begins right now. >> this is america's number one financial news program, "the wall street journal report." now, maria bartiromo. >> all that ahead, but first, here's phil griffith with the look at the stories making headlines this week. >> thanks, maria. here's what's making news as we are heading into a new week and new year on wall street. congress is working the weekend, attempting to avert some part of that $6 billion in automatic tax increases and the spending cuts that are set to kick in on january 1st. that fiscal cliff and its potential impact on our economy brought lawmakers from both houses to washington for last-minute negotiations. concerns about the cliff spooked investors, the holiday shortened trading week was lighter in volume but hi
CNBC
Dec 26, 2012 7:00pm EST
crisis in washington. we learned just a few hours ago that not only is the fiscal cliff deadline on new year's eve, we are going to hit the debt ceiling on the very same day. we are about to go to washington for a live report. now to national weather. deadly storm slamming the midwest and the south now hitting the northeast. this is all coming just as millions of americans are waiting to take flights important the holidays. suburban new york newspaper chooses to publish the names and addresses of thousands of private citizens who have legal gun permits. can the mainstream media still claim not to hate all gun owners after a stunt like this? "the kudlow report" starts right now. let's get the latest on the snag on the fiscal cliff talks and surprise news we are going to reach the debt ceiling in days instead of just a few months. john harwood has the details. what's going on? >> not a whole lot of actions going on. although there have been some developments. let me bring our viewers up to date on those. first of all, treasury secretary geithner this afternoon announced the united states would h
CNBC
Dec 28, 2012 7:00pm EST
his immediate action, though, with the nation facing a crippling fiscal cliff in just three days, the president calls congressional leaders together and says, you fix it. no, he doesn't offer any new plan from the white house, no compromise. instead the president tells the senate to come up with a deal and the same senate that hasn't passed a budget in years. and the marks don't like it at all, 158 points now tanking and falling further in the after market and we'll have to see how asia opens on monday. it could be ugly. the headlines are falling fast and furious. we're all over it "the kudlow report" starts right now. >>> welcome. i'm michelle caruso-cabrera in for larry kudlow. a lot happened in just the last couple of hours. >> michelle, there's considerably more optimism after the white house meeting between the president and the four bipartisan leaders than there was earlier in the day. mitch mcconnell and harry reid say they're going to come out and try to hammer out a bipartisan deal that can pass the senate with enough republican votes to convince the house to act and even president obama who had been concerned that they were not going to act and challenging them for an up and
CNBC
Dec 28, 2012 6:00am EST
to avoid the fiscal cliff. >>> the dow erases a 150 point decline on news that the house will be back in session on sunday evening. and time is rubbing out to avoid a strike at 14 major east coast ports. a work stoppage to cost the economy $1 billion a day. it's friday, december 28th, 2012. and "squawk box" begins right now. >>> good morning and welcome to "squawk box" here on cnbc. and it does feel like we're living a bit on the edge of the fiscal cliff, at least. i'm andrew ross sorkin along with joe kernen and becky quick is off today. our guest host this hour, ed kehone. he's the management associate portfolio manager and we are thrilled to have ed aboard for -- i think you'll be here for longer than an hour. you'll be here for the whole broadcast. >> as long as you need me. >> you're like -- how long were you at -- you were at prudential. >> it's owned by prudential, so i've been at peru don'tal for almost 15 years now. >> widely quoted. you know who has made a comeback is ralph -- >> akampora. >> i've seen him around. do you remember his nickname? >> i don't. >> whatever yo
CNBC
Dec 31, 2012 9:00am EST
new year to everybody. and we should point out, look, fiscal cliff, market says, what, me worry at this point? >> i wonder what really did happen. did you get anything -- >> i think it was tony and i. >> not since we last talked. >> you guys get along well. as long as you're a steeler fan, you get along. it was great. thanks, guys. we've got to go. >> can you see this? we're giving out the fiscal cliff bars today. >> bye, everybody. happy new year, joe. right now, time for "squawk on the street." ♪ >> one final trading session for 2012. and it comes, of course, with the add eed drama of a fiscal cliff set to take place 15 hours from now. i'm carl, with melissa lee. cramer and faber are off today. good morning to you, dan. >> good morning. >> the house gaveling into session just a few moments ago. business there is going to start at 10:00 a.m. eastern time. futures are showing some resilience as becky said, despite no deal yet in congress. but remember, the sell-off on friday and friday night was pretty severe. the dow is set to open below 13,000. markets in europe mixed after a s
CNBC
Dec 31, 2012 4:00am EST
count towards the fiscal cliff, we're counting down to new year's eve. in a few hours, people from all over the world may be popping open their bubbles of bubbly. sales in the u.s. and japan are on the rise. and for more on what to expect, we're pleased to be joined by chris adams, chairman and ceo of wine retailer sherry lehman. it's the place people here in manhattan know very well. chris, good morning. >> good morning to you. >> let's talk about some of the areas where you're seeing strength. i was looking through some of your top sellers and it includes bottles of wine that go for $70 and cases of wine that go for over $700. where is the money coming from? >> i think we're seeing some trade down from the very top, top whines, most notably the whines that cost $800 or $900 a bottle. and the comfort level for the consumer is falling more into people who are spending at the high significant amounts of money on wine are looking at the price points of 150 to 200 and that kind of attraction is right in the wheel house for champagne. >> and champagne, let's talk about in particular, o
CNBC
Dec 28, 2012 3:00pm EST
last-ditch effort to avoid the fiscal cliff, what's an investor to do right now? should you opt for the relative safety of gold in the new year, for example, or take your chances with, oh, how about stocks? it's gold versus stocks when we come back after this. iency. you can spot an amateur from a mile away... while going shoeless and metal-free in seconds. and you...rent from national. because only national lets you choose any car in the aisle...and go. you can even take a full-size or above, and still pay the mid-size price. now this...will work. [ male announcer ] just like you, business pro. just like you. go national. go like a pro. your doctor will say get smart about your weight. that's why there's glucerna hunger smart shakes. they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. [ male announcer ] glucerna hunger smart. a smart way to help manage hunger and diabetes. >>> as we speak, congressional leaders and president obama are meeting at the white house as they work on last-minute negotiations to try to avoid the fiscal cliff. our eamon javers also reported just moments ago that
CNBC
Dec 31, 2012 3:00pm EST
and avert the fiscal cliff. >>> positioning portfolios for the new year, i can majs is tricky right now. there's a lot of mess going on in d.c. we're going to help. we're going to give you the single best play for 2013. >>> and also next, two congressman, one democrat one republican. they're going to talk to us about the fiscal cliff. are they happy or sad? and can they rise above to get a deal done? "closing bell" will be back after this break. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime. tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 all this with no trade minimums. tdd#: 1-800-345-2550 and only $8.95 a trade. tdd#: 1-800-345-2550 open an account with a $5
CNBC
Dec 26, 2012 4:00pm EST
our beloved fiscal cliff. >> five days to go and counting before we fall off the so-called fiscal cliff and while there's no deal, more news out of washington and our very own john harwood is there. >> reporter: mandy, we've got a letter from the republican leadership to the president and to the democrats in the senate saying that the house has acted, they passed legislation last year to extend all the tax cuts and to shift the scheduled sequester cuts from defense to domestic programs, but, of course, in urging the senate to act saying, well, we've acted, now it's your turn, we're simply not going to see the democrats take them up on that because president obama since that letter has won the election and now we're looking at the possibility of a mini deal that would get enacted before january 1st but so far all we've heard are the sounds of silence in the negotiations. a senior white house official told me today when i asked was there any holiday season progress, back channel progress over the past couple of days, got a one-word reply, no. second, the democratic senate leadership says there's a 50/50 chance that we'd get a de
CNBC
Dec 31, 2012 6:00am EST
regarding the fiscal cliff, but it's low volumes here as we enter the last hour or so of trading. back to you. >> we also have some news to bring you, broken last night. i expect john harwood talked about it on the special that we did last night. secretary of state hillary clinton is in a new york hospital this morning being treated from a blood clt clot resulting from a concussion you suffered earlier this month. she had been expected to return to work this week. >>> coming up, deal or no deal? we're going to look beyond the fiscal cliff and what it will mean for the markets. we have jim o'neill. he's going to join us to talk about whether he is bullish for the start of 2013 and how much the fiscal cliff is playing into his outlook. >>> welcome back to "squawk box" this morning. take a look at futures for the day, the s&p is up a little over 7 points as we await to see what happens with the fiscal cliff. >> it is the last trading day of the year. how will the global marketses react to our domestic drama? calling in right now on the squawk news line is jim o'neill. it's great to be speaking with you this morning. i know w
CNBC
Dec 27, 2012 4:00am EST
deal to avoid the fiscal cliff as the government starts taking steps to buy more time before the u.s. hits the debt ceiling. the yen hits a two-year low against the dollar as the new japanese government battles to weaken currency. exports are rising, pushing the nikkei to its strongest gain in 20 years. .shares of toyota are heading higher after the u.s. settled a class action lawsuit. the $1 billion payment is already priced in. okay. welcome to "worldwide exchange." plenty of news to watch out of washington. all of this week, we thought it would be a quiet one. but i won't be inside the beltway if they want to get something done. the u.s. will hit the $16.4 trillion debt ceiling come monday. in a letter to congressional leaders, geithner says treasury will begin taking steps to save the government about $2 billion. geithner says it's harder to predict a time frame because the ongone fiscal cliff talks make it difficult to forecast next year's budget. among the measures treasury will take including suspending state and local government securities and investments in the federal employee pension funds. those don't sound like good practices going forward. president obama mea
CNBC
Dec 26, 2012 6:00am EST
hikes due to the fiscal cliff and we have our julian robinson news, that he is a fake -- not he is a fake but the tweet is. we have been investigating this. it said congrats dick tracy, you must be having a pretty busy day today. >> it's not like it took hours and hours of your time. >> i know. there's not a tlot of news out there post christmas. >> julian would not try to talk about his book this way. >> you can follow me now. did you re-tweet my happy birthday? >> by the way, the fake julian robertson has 3100 followers by the way. >> oh, god. >> joining us to talk about the prospects for a deal to avoid the fiscal cliff, congressman jim himes, democrat from connecticut. congressman, there are some in both parties, i don't know, maybe they wouldn't admit it, they don't think it's the worst thing in the world to go over temporarily. where are you? >> you know, i think there's some chance we get a deal in the early weeks of january which means technically you are going over the cliff. if you vote on the deal that john boehner couldn't get done in his conference thursday, if you vote
CNBC
Dec 26, 2012 1:00pm EST
they wait for more news on the fiscal cliff before they make those long term bets. but there were also some pockets of strength that can't be ignored. the ag complex rose sharply in the wake of this summer's drought, the worst that we saw in 50 years. also, lumber, the best performer by far, logging huge gains as the housing market appears to be on the mend. then there were the metals. silver, gold, palladium and copper, aluminum on track for more modest gains this year. interesting to note that 84% of the funds that were invested in physical commodities were invested in gold. what was the most overlooked commodity this year? several traders told me that they thought it was natural gas. they expected it to be a more crowded trade. they also said they will be watching it in 2013. tyler? >> thank you very much. >>> commodities, let's talk more about them. are they worth your money in '13? bill o'neill is managing partner. welcome back, good to see you again. i will take you through some things pretty quickly. favorite commodity to be among the metals for 2013? >> i would say copper.
CNBC
Dec 27, 2012 7:00pm EST
the fiscal cliff. is that true? >> he's weekly columnist for "the new york times" and "the huffington post." it depends on the small business. it's funny when people say all small businesses will be affected if the fiscal cliff does hit, but don't forget, there's over 20 million small businesses in this country and it depends what business you're in, where you're located and what business you're in and where your customers are and there are factors when you start to generalize. >> we hear it mostly on the taxation side. if you raise taxes on people who make more than $250,000 don't forget a lot of small businesses file as individuals and make more than $250,000. >> it's absolutely true. i mean, but most small businesses, particularly my readers and the clients that i have, they're bracing for that. it seems an ineshvitablility th there will be increases in capital gains and interest rates and estate taxes next year and that all seems to be on the board. >> health care will get more expensive if they provide it. >> michelle, remember, it's not going cripple many small busine
CNBC
Dec 27, 2012 6:00am EST
table here on the fiscal cliff and we're creeping up here on new year's eve. and then yesterday, as you just mentioned, treasury secretary tim geithner really upped the ante in dramatic stakes in the fiscal cliff end game by saying that the united states is going to hit its borrowing limit on monday. now he said the treasury can put in place some extraordinary measures and it has some wiggle room there but he said that the doubt and uncertainty over the fiscal cliff really clouds the prospect of exactly when the united states is going to hit its debt ceiling, statutory borrowing limit. so, that all adds a whole element of drama to all this. and it's really not clear, guys, at this point, how this thing is going to get resolved. but the house has said that it would like the senate now to go first after the house had been taking the lead in negotiations earlier on. and they say they stand ready to vote, at least, on whatever it is that the democratic controlled senate will pass. it's not clear, however, that anything that could pass the senate could also pass the house, which is contr
CNBC
Dec 27, 2012 9:00am EST
hours, cutting his hawaiian vacation short to address the fiscal cliff s there really any hope in the last attempt? does the market fade if there's no news tomorrow night? >> the nikkei continues its 21-month run. how much is the boj willing to put up with? >> looking a at potential strike in the nation's port on the east and southern coast, the first since '77 that could cost retailers and importers billions. businesses now asking its white house to get involved. >>> you can now get the nokia lumia for free, depending on the service provider contract you sign s that standard practice or a sign the company's flagship phone suspect selling well? >>> we will start off with news about the fiscal cliff. congress returning to capitol hill today to try to get a deal done on the cliff before the deadline on december 31st. senate majority leader harry reid is working to see if the scaled backpackage the president laid out last week can get through congress before monday. meantime, treasury secretary timothy geithner says the government will hit the debt ceiling on monday and he is launching an emergency plan to avert a crisis. amm eamon javers is live. w
CNBC
Dec 27, 2012 3:00pm EST
. >>> fiscal cliff fears pushing stocks lower but we're well off those lows right now and news that the house will reconvene on sunday evening at 6:30 p.m. eastern time. let's get to seemor, modi with more on this. >> hi, mandy, off of our lows, but today a risk-off approach to trading. that's a strategy being used as wall street is waiting by for the latest on the fiscal cliff negotiations. interestingly enough when you look at the year-to-date performance of the major indices, the nasdaq is the outperformer, however. for q4, just this last quarter, the nasdaq is the worst performing major index. some is down about half a percent today. lastly, one of the bright spots in the online travel space that i want to point your attention to, expedia.com. no major news hepthelping lift the stock. however, traders telling me that technically the stock looks strong. even on twitter you'll see that there are a lot of traders tweeting about this stock, up about 3 president 6%. bill? >> all right. seema, thank you very much. meantime, nokia's shares lower -- they were early on by more than a percent
CNBC
Dec 27, 2012 2:00pm EST
meantime, you are looking live at house minority whip steny hoyer speaking about the fiscal cliff. he's saying that congress needs to get together for a compromise. we're going to monitor this situation and we'll let you know if he breaks any news. >>> in the meantime, 12 months ago, brian, you had a few predictions for this year so it is that time of year that we roll out that list and we do see how many of them came true. we're going to hold your feet to the fire, by the way. you're not getting away scott free on this one. >>> i can't wait. plus, a few retail surprises this season. which ones raked in the cash. which ones may have flopped? that is still ahead. >>> and also frequent flyers need to take stock of their status in the next couple of days. how to protect your purse for 2013 a little later on "street signs." stay right here on cnbc. >> announcer: the cnbc real time exchange market snapshot is sponsored by interactive brokers. >> announcer: interactive brokers, the professional's gate way to the world's markets. andm two things -- cook what you love, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game from the great no
CNBC
Dec 27, 2012 1:00pm EST
it is. senate majority leader harry reid says the u.s. is probably going over the fiscal cliff. he's planning a news conference. we don't have the exact time. when it goes, we'll go there. investors getting quite nervous. obviously the dow dropping below 13,000. the first time since early december. fear index is spiking the vick. what going over the cliff will mean for you and your money. we will talk about it this hour. >>> airline stocks flying high sitting at 1 1/2 year highs. will it be smooth skies for the industry next year in 2013. phil lebeau has the report. >>> how about housing? what a story housing has been this year. a milestone. home prices on track for their first year-over-year gain since 2006. is the worst finally over? some say yes, others say no. what does michelle caruso-cabrera say. >> tyler, let's drill down to the numbers you were talking about. only four hours to go until america goes over the fiscal cliff. the dow jones industrial average down 113 points. had been down 148 points. look at that as we come on the air back above 13,000 level, not by much. the nasdaq, the biggest decline. 3
CNBC
Dec 26, 2012 3:00pm EST
about the fiscal cliff, economists talk about the fiscal cliff and politicians talk about the fiscal cliff. we're wondering whether mom and pops at home talk about the fiscal cliff. is a lack of a budget deal actually spooking shoppers out on main street? >> it is. walmart told us 75% of their customers have cite that had they are worried about the fiscal cliff. mandy, you and i were on last week talking about the luxury retailers and we called out saks saying business pre-holiday was particularly weak. what are the people in the stores telling me all week, saying that this is the worst pre-christmas they had seen in over a decade, and part of that was because their consumers are worried about the fiscal cliff, so note to the government. it does matter. >> yeah, but that's, as you say, part of it. laura, what else is going on? it just felt like we were going into a lackluster season here. what happened? >> i mean, there's been some discussion about weather trends as well, but whether or not we go over the fiscal cliff, consumers think next year we'll see higher taxes and lower
CNBC
Dec 24, 2012 5:00am EST
president is eager to go over the fiscal cliff as he senses a victory at the bottom of the cliff. >> republicans are now looking past for new year's day to the battlegrounds. >> i would raise the debt ceiling only if we save medicare and social security and prevent this country from becoming greece. no more borrowing without addressing why we're in debt to begin with. that's where the real chance for recovery occurs at the debt ceiling debate. >>> still with us, ralph silva. the debt ceiling is now coming up with fiscal cliff talks? >> one comes with the other. if you notice how much airtime all these politicians are getting. eats enormous. it's a matter of getting as much media play as possible. they are politicians. so as a result, we're seeing a little more than that and they're pushing each other and seeing how far they can go. the president doesn't have to get re-elected again. he can push as far as he wants. i think we're going to see some solutions by tend of the year. >> you would think there would be something to carry its way with republicans. but if you look at the divide, they're pushing back. the tea party is alive an
CNBC
Dec 24, 2012 12:00pm EST
pending cuts, do you see anything from the fiscal cliff? >> i think the average consumer doesn't understand the fiscal cliff but i think they watch the news and understand something is wrong and people are very worried about it. i think that the way things stand now, if we do go over the cliff, it is going to be most of an impact for lower end consumer. i think the higher end consumer still has an ability to spend. certainly maybe a bit more cognizant of impaktd opinion but their ability to spend on discretionary categories, it is not hammered to the extent it'll cause major pull back in spending and categories of things we cover. maybe they won't buy boats and homes, but i think sweaters and watches will sell good in that category. >> that is certainly a big, big worry but again a worry for lower end consumer. more so than the higher end consumer. if you look at employment trends, high end versus low end, it is a very different story and i think that the lower end consumer is the consumer i'm most worried about if we good over the fiscal cliff. >> what do you think about that, is that the category you would watch as well going over the fisca
CNBC
Dec 26, 2012 9:00am EST
sort of a higher income areas, in states, california, the northeast, because of the fiscal cliff? do you think that's going to show up eventually in the data? >> actually, i think the bigger thing that's likely to show up, especially in the new york metro area, is really a question of what seasonal bonuses look like. traditional issue for new york city area has always been how good the bonuses are, if they're real good people go out and buy slightly bigger houses than they had expected to previously. i think that's a bigger item than the fiscal cliff. the long-term question about taxes is clearly the mortgage deduction. given they haven't even got to the headline items for the fiscal cliff, they won't get to the mortgage deduction for a few weeks, if not longer. >> finally, david, shadow inventory. we hear a lot about it, talk a lot about it. it doesn't seem to be the concern some anticipated, at least when we go back to 2012, 2011 to current. >> to some extent on a national basis, i think the shadow inventory story is a little bit overdone. i think it's gradually being worked off. foreclosures have been -- or the number of homes in foreclosure have been declining in the last several months and i think are likely to continue to d
CNBC
Dec 26, 2012 12:00pm EST
east and the news on the fiscal cliff is a pretty big deal. now it's decision time. is it big enough to take it above 91.25 and settle there? if it can't do that, it will be considered a failure. i want to be short oil and i think 8620 would be the downside. >> on the up side we're watching 9125. now you know what our guys are doing. are you buying or selling crude surge today? head to futures now.cnbc.com and vote in our poll. don't forget to check out our next online show that will be tomorrow at 1:00 p.m. scott being barks to you. >>> we'll see you tomorrow at 1:00. right now when "halftime" comes back. we target stocks in the tech world. find out who has what it takes to become number one. >>> first, christmas nightmare. netflix sees outages over the holiday. the bad timing that's putting the stock in our top three trade. "halftime" is coming back right after this. >>> we're halfway through the trading day. still ahead on the half time report, a round of hold 'em or fold 'em. stick around for our final trade, the "halftime report" is back in 2 1/2 minutes. >>> it's sponsored by t
CNBC
Dec 31, 2012 1:00pm EST
. we are told the president will address the country shortly on the fiscal cliff. as we await what will be presumably a market address, let's start shuffling through where we are in a moment. we kick off with mary thompson on the floor of the new york stock exchange. mary? >> john harwood has been reporting throughout the morning and gifting lift throughout the day, the dow off 54 points and we are seeing gains in material stocks and also tech stocks getting a nice bid into today's session. you can see the gyrations in the broader market reflecting different headlines we've seen coming out of washington throughout the morning. taking a look at the chart of the s&p, i'm just pulling that up for a couple of reasons. we are heading into the month that the s&p is down for the month of december and down for the quarter. when the s&p is down for the quarter, typically 70% of the time that doesn't bode well for the first quarter of the next year. we are talking about stocks bertha has been talking about. the expectations is there are some delays to automatic spending cuts that would have a big impact on the defense industry. so they are higher in today's session. of course banks also have been responding quite closely to any news out of w
CNBC
Dec 24, 2012 4:00am EST
hoping to catch more of the housing uprise. but with the fiscal cliff looming, i was wondering if you would advise more defenseless strategy like consumer staples or something going into the new year. >> what i was thinking i told a friend of mine today conagra reported an amazing number. that's the kind of thing i would think about. nice yield. good growth. i think that's the best idea. why don't we go to brooks in ohio. brooks was here. brooks? >> caller: my question is about abbott, the split, how's it going down and which side are you on? >> good news today. the split will be included in the s&p which is why it was up. abbott is going higher. that's why my travel trust owns it. things seem dysfunctional in washington but even now it's better to be a buyer than a seller if you know where to look. "mad money" will be right back. >> announcer: coming up, the world is overflowing with information and tibco helps make sense of ones and zeros. while the market is up nice for the year, its stock is now down big. does today's turn to the green mean it's time to logon or should you pull the plug? cramer's exclusive with the ceo is next. and later, high stakes. looking to play a turnaro
CNBC
Dec 31, 2012 4:00pm EST
. so now you've got everything happening as we expected on the fiscal cliff. the sequestration, the spending cuts, and the tax increases. which as we know will lead to a recession in 2013 likely. >> okay. we got to leave it there. >> all right. thank you. good job. happy new year. i don't know if this means you won the bet or not. i can't decide. what's that? >> i think i won the bet. i didn't want to win the bet. >> wooe'll talk. happy new year, kid. >>> keep it here for the latest on the cliff developments. we're not done with this yet. america's economy held hostage gips at 6:00 p.m. eastern time tonight. >> indeed it does. >>> also insiders view now it is a fact we are going over the cliff. what does it mean when we start trading on wednesday? >>> when we come back, a couple of technology pros gaze into their crystal balls this new year's eve. one of them thinks facebook will buy netflix and microfox will take over research in motion. oh, yeah? we'll talk about that coming up. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at sco
CNBC
Dec 27, 2012 12:00pm EST
fiscal cliff guys and concern about the consumer apparently hasn't spooked investors on the idea, hey, some people still may travel, maybe even to great cities like belmor, long island or chicago or new jersey where the "fast money" team resides. >> sully, thank you. >>> when you have airline stocks hitting new highs, ex-speed 82 is doing well expedia. who is a buyer of expedia? >> what's interesting about those stocks, they don't necessarily require a massive uptick in overall travel but consumer looking for ways to save money. that's essentially what they are, money saving toolings if you have to travel. >> no buyers of priceline at this table? >>> think you will see priceline do well in 2013 because of potential recession fears. booking.com, one of the biggest priorities with the european countries and think it will continue. >> i would stay with expedia and trip adviser also. both of those lines have paulle money out of priceline. >> i'm in trip. >>> straight ahead, four struggling retailers on a make or break year. delta had a ticket to for 2012 and we debate whether skies will stay friendly. >>> first, where's the leadership? we tackle which sector may rise. we're not talking d.c., th
CNBC
Dec 26, 2012 5:00am EST
could avoid the fiscal cliff in a few days. we'll break down what's at stake in "your money." >>> if you got fewer presents under the tree, you may be ready. spending numbers are coming in, and they're not pretty. >>> plus, new numbers for apple's ipad mini and more. that's coming up on "worldwide exchange." >>> good morning and welcome to a special edition of "worldwide exchange." i'm jackie deangelis along with seema mody. ross and kelly are off for boxing day. they'll be back tomorrow. >> that's right. >>> let's get a brief check on the markets this morning. energy and metals are trading at this hour on the nymex. you see crude oil up .6%. brent crude also up. and take a look t yellow metal, gold. down just fractionally. now u.s. futures will begin trading in about a half-hour. the cme globex has been closed for christmas and will reopen at 6:00 a.m. eastern time. that also goes for treasuries and the foreign exchange market. >>> as for the action in the overseas market, the youu.k. is closed for boxing day as are british colonies, hong kong, australia, new zealand. in europe, the dax in germany is up and running. we are higher -- lower, rather, sorry, by half a percent. overnight in japan, the nikkei, that was h
CNBC
Dec 28, 2012 2:00pm EST
demand could slow up for both of these groups if the u.s. goes over the fiscal cliff. again, we're waiting for any news coming out of the 3:00 p.m. news. >> send it over to bertha coombs. what have you got on your 3450i7bd? >> as mary said, a lot of people are sitting on the sidelines in terms of any movement in congress over the weekend. but we did get that delayed weekly inventory report, and that was fairly bearish for the most part. much smaller than expected draw down in crude. bills across the product. in crude the thing that people watch is what happens to the nymex in curbing, oklahoma. there we saw a 2 million barrel increase in terms of stockpiles. we're now at a record 49 million barrel stockpile. that really just underscores what we've seen all year and why we've seen nymex crude underperform, brent, which is now considered really the global benchmark because we keep having strong production coming out of north dakota but no real way to get that production out of the hub in cushing, oklahoma, down to the refiners on the gulf coast. very little trickling down. a lot of it going by rail these days.
CNBC
Dec 24, 2012 6:00am EST
year also means we are just days away from the fiscal cliff, however, and that's the bad news. and looming tax hikes, spending cuts, all of that. both sides warning a very big deal becoming a bit more unlikely. >> and my one bit of advice to speaker boehner is this. you cannot pass a bill with just republicans. on a broad thing like this, you need both. and he has put himself with plan b and sort of an impossible position. he has to get these hard right goes to go along with him. and he and the president were going to say we're going to pass a deal with the majority of republicans and the majority of democrats in the house and senate, we would get a mainstream deal. >> i think we're going to fall out of the fiscal tree. the big deal for the big deal is at the debt ceiling. that's when we will have leverage to turn the country around. >> congress is now out of session for the christmas holiday. but expect it to be back thursday. joe, we talked to some of the senators and congress last week saying will you come back from vacation? some of them pretend like they weren't going, but i t
CNBC
Dec 28, 2012 9:00am EST
and all of us who call the gulf home. >>> even with all the fiscal cliff worries and headlines, there has been a lot of data this week. we got new home sales yesterday, 2 1/2 year high. of course, claims, we'll get chicago pmi in a few seconds here. and later on this morning, pending homes. for the pmi, let's get to chicago and rick santelli with that data. >> indeed, one of the last significant data points of the year, we'll get the last one coming up. 51.6, december read, 51.6. why do i sound so excited? because there were a lot of odds on this number that it would slip back below 50. 51.6, the best number since august, and that was at 53. and subsequently we had 47.9, 7 47.9, and 51 at last month. that stands unrevised. i'll look at some of the granular components when i come back with pending home sales in about 14 minutes. the response in the marketplace, i wish i could tell you it was large, but it is not as we still hover down 70 in the dow and are flirting with the two-day support level of a 170 yield and a ten-year note yield that happens to be 17 basis points lower than we were at the end of last year. carl, it's all yours.
CNBC
Dec 31, 2012 12:00pm EST
for a loss by about six points and the s&p is up 3 1/3. we'll continue to follow the fiscal cliff negotiations throughout the day here on cnbc including at 6:00 p.m. tonight where we have a special report hosted by brian sullivan and kelly evans. happy new year. we look forward to seeing you back here in 2013 as we hit noon on the east coast. let's get the "fast money halftime" back at hq. >>> all right, carl, thank you so much. welcome to the halftime show. four hours to go until the close and here's where we stand on this final trading day of the year. it is a mixed market picture. pretty tight reigns thus far for stocks. here's what we are following on halftime. gross profits. the man in charge of pimico's freerly $2 trillion in assets is here live with the best place to make money in 2013. >>> coffee talk. green mountain is up 95% over the past six months. now two of the traders debate whether the comeback is for real. but first, our top story, edge of a cliff. that's where the markets currently sit as lawmakers in washington continue their 11th hour of negotiations. cnn's amen jabbers is live at the hill with the very latest. >> reporter: we are in a bit of a holding pattern here on capitol hill. a late night of negotiating that continu
CNBC
Dec 28, 2012 4:00am EST
higher. we're all looking towards these fiscal cliff negotiations. at the moment, we've got a couple more days of trade before we get to the end of the new year, as well. most analysts out there, they've been saying we're going to see a relatively flattish end to the year from where we are now given that we've seen such an increase of equities in the past 12 months. we've seen stellar outperformance from these european markets. also the periphery markets incidentally, too. bond markets, the fixed income markets, here we're seeing buying in germany at the moment and 10-year german bund around 3%. a little bit of buying into the gild as well as some of the safe haven trades back on. we have this italian bond auction. the first one is going to be settled in 2013 and the last one in this year, as well. it's thought that it is going to see solid demand given that it hasn't gotten any trouble getting off the ground as of late with those bond auctions, as well. a quick wrap on the forex market. here you're looking at selling in the euro/dollar right now. 1.3190. we're flirting with the high level of this trading range that we've been stuck in. dolla
CNBC
Dec 31, 2012 2:00pm EST
to a fiscal cliff deal. the latest word is that they are negotiating over the exact amount where taxes will rise, 450, maybe 550, maybe in the middle at 500 but the president did throw a barb out there saying if the republicans think we are done with tax revenue and spending cut discussion, they have another thing coming. welcome to final "street signs" of 2012. and if things don't go well, maybe the final "street signs" ever. just kidding. just ten hours left in this year in washington and ten years until we fall off the fiscal cliff. can we get it done? >> working the phones day and night, let's goat john harwood in washington. lots and lots of headlines, fill us in. >> the latest mandy is that negotiations agreed on the middle class portion of the tax cuts. these are talks between biden and mcconnell. what they agreed to is 39%, 39.6, rather, of individuals over $400,000 in income. married couples above $450,000. estate tax to 40% for estates over $5 million p.m. and rise in dividend rates. can they resolve the disagreement offer spending cuts? democrats are resisting. they wa
CNBC
Dec 24, 2012 9:00am EST
traveler. >> jay, we talk about the fiscal cliff impact and nobody knows how that story's going to turn out. if taxes do elevate in the new year and stay elevated compared to this year, i mean, isn't travel largely discretionary, largely a purchase that you make with some extra income you have on the sidelines? what might we be looking at in terms of travel demand, not this quarter, but in the next couple of quarters? >> certainly i think from a big picture standpoint, you're more worried about this as it relates to marriott or starwood in corporate travel demand. that's where we're seeing the concern. leisure travel remains relatively strong. you still have the secular tailwind here. only about a third of travel globally sells online. and that penetration is going to rise. so maybe you get to negative impact, but i think it's offset by the secular tailwind as business moves online, and increased caution or concern likely accelerates that shift to online. >> are there any hotel chains that you do like? i'm curious, because i understand that the business travel segment might feel the most from the impact of the fiscal cliff. at
CNBC
Dec 23, 2012 7:30pm EST
. >> nice to see you. >> great to be here. >> so does all the drama over the fiscal cliff and uncertainty about the economy weigh on consumers? how are you expecting the season to play out? >> well, i don't have any doubt that it does weigh on consumers, it's in the news constantly, people are worried about it, but having said that, we're talking about christmas here. this is no minor holiday. so christmas is going to come on tuesday. it is christmas day. and consumers have to get shopping. and the last thing that parents want to cut back on is the toy is the holiday present for their child for christmas. >> true. so i want to go through the toys you brought. what are you expecting in terms of this christmas holiday shopping season? anything we should look at as far as the real gauges? >> well, you know, it's all going to come down to the last weekend, to the last few days. >> even christmas eve. >> even christmas eve. and toys"r"us, just to make sure, we are open 24 hours all the way through until 10:00 p.m. christmas eve night. so there's still plenty of time, if you haven't bought the toy, get out there now, get off the couch. go to toys"r"us, we're open all night. >> okay. that's good, 24 hours, wow. so does that really help, being open -- i mean, that was t
CNBC
Dec 27, 2012 5:00pm EST
in another attempt to agree on a fiscal cliff deal. amon j eamon jav everyoers has the sto. >> i'm keeping an eye on my iphone here, i just got an e-mail from a source that says there might be even further news this evening, so, waiting for a status update on that. but we did get some news today and that news, as you say, was that the house of representatives is going to be called back early. they are coming back on sunday at 6:30 p.m. what they're going to do when they get here, we don't have any idea. but we had a fascinating series of dueling press conferences, dueling floor speeches, i should say, by senate republican and democratic leaders. the republican leader, mitch mcconnell, really put the blame on democrats, but he did seem to indicate that there may be further negotiations that are ongoing here, possibly even as we speak. take a listen to mitch mcconnell earlier this afternoon. >> the truth is, we're coming up against a hard deadline here and as i said, this is a conversation we should have had months ago. and republicans aren't about to write a blank check for anything senate democrats put forward, just because we find ourselves at the edge of the cliff. >> so mcconnell there very mu
CNBC
Dec 31, 2012 7:00pm EST
the fiscal cliff. we'll see, i'm larry kudlow. stay with us. kick off 2013 with style. people and industries and million dollars rackets. the new year's day marathon on cnbc. 315 horsepower. what's that in reindeer-power? [ laughs ] [ pencil scratches ] [ male announcer ] chevy's giving more. now through january 2nd, no monthly payments until spring for qualified buyers. get the silverado for 0% apr financing for 60 months plus $1,000 holiday bonus cash. plus trade up for an additional $1,000 trade-in allowance. [ male announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> the whole fiscal cliff in washington tonight. let's get the latest from our pal at capitol hill. what is cooking?
CNBC
Dec 28, 2012 4:00pm EST
cliff. they are meeting with the president and the treasury secretary timothy geithner, and they are trying to hash out a deal. but reports that the president has nothing new on the table has ended up spooking wall street in a big way just in the last hour, and as bill said we finished down near the lows of the day, down about 157 points for the dow. settling up right now. down what, about 165 at the very low, bill? >> i think so, yes. >> and the nasdaq finishing down 25 points and the s&p off by 15, a fifth straight day in the red. well, it is the last friday of 2012. it's in the books. check. still no deal in sight and no new offer either on the table from the president as eamon javers told us a little while ago. what now for the markets? we have our guests and our very own rick sell sebak with us. rick, let me get to you, first of all, because you're here on the set. what now for the markets? >> what now for the markets? it's going to be up or down dramatically which makes it challenging for all investors. are we going to have resolutions? are we headed over the cliff to give pain to the shorts in the investors have to find a smooth ride through? >> how? >
CNBC
Dec 27, 2012 4:00pm EST
. we'll speak with outcoming cutcheon for a deal. all that and more. >> will going over the cliff help the recovery in its tracks? more on that. >> and hear what this small business owner in new york city, where we are right now, thinks about the cliff crisis. >> i'm annoyed. i'm annoyed with the fiscal cliff. we're looking at not knowing what's going to happen. we fall off this cliff, an everyone gets affected. there's no trickle-down effect. it's more like a slush. we'll lose income. the question is how much income are we going to lose? if we fall off the cliff, the fear is that we fall off the cliff, not slowly glide down the cliffch the government at this point needs to understand that we should be able to trust you to do the right thing, put politics aside and think about us, the people that's why we have government. fix it. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real
CNBC
Dec 28, 2012 12:00pm EST
think we're going over the fiscal cliff should you get into bonds or is it too late? let's talk futures now. jim is at the cme in chicago anthony at the nymex in new york. let's zoom out for a second. what does the cliff actually mean for treasuries? >> i think if we go over the cliff you're going to see treasuries a lot higher. we'll probably test about that 1.5% yield in that. if you look at what happened today they're talking about a mini deal. treasuries didn't even move. you would think there would be a selloff a little bit in the futures alone and there wasn't. the market is looking for something more substantial, a little more substance. they're also looking for some kind of talk about what they're going to do with the debt ceiling. until we get those things i still think you can be in treasuries. >> okay. looks like investors are going to pile in as long as the uncertainty is out there. jim, what about you? would you get into bonds here? >> no. not at all. actually i'm taking the other side. i adopted a negative bias yesterday because to me it still looks like a corrective channel from the big drop over the last couple weeks. now it certainly i
CNBC
Dec 28, 2012 1:00pm EST
under a lot of selling pressure as a lot of people try to get ahead of the fiscal cliff. silver on track its fifth weekly straight decline. copper back-to-back gains this week. a little bit of hope that we'll see more demand for copper this year as china's new government may do some more urbanization. if you take a look at the metals, those with industrial properties, particularly the precious metals, platinum a big winner, palladium a big winner, those used in catalytic converters. >>> thank you, bertha. >>> the iranian navy holding massive drills in the strait of hormuz. this comes from iranian state television. the exercises include fire ships, warships and hover craft as well. we don't see a lot of reaction from the oil markets. wti is below 13 cents. that's a premium that we've seen for now, gosh, nearly a year. higher by 20 bucks relative to crude. $110 per barrel. let's get trading action in terms of stocks. i don't know. mary thompson joins me here on the floor of the nysc. >> well, we're going over the cliff, mary. should we hold hands? >> let's jump. >> do you have a parachute? >> no, i don't. i don't. you know, a lot of traders think that a parachute is going to come in the form of a mini deal. so that's the feeling right now. >> i don't li
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